"The ultra-deepwater market has tightened considerably and has been effectively running at 100% utilization since the middle of 2011," said analyst James Crandell.

"Rig availability is very scarce in 2013, with just six uncontracted newbuilds and most active rigs likely to re-sign with their current operator. The tightening market has ratcheted up UDW dayrates, which have reached the high $500s in the GOM for a minimum three-year term and the mid-$600s in West Africa for similar term length," he said.

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